USDJPY Forecast
The USDJPY failed to continue its bullish momentum last week, fell back below 111.40 support area after unable to stay above 113.00. This fact creates a false breakout bearish scenario. The bias is bearish in nearest term testing 110.50 area. Immediate resistance is seen around 111.50 (current high). A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear.

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.